Mar 31, 2015
SEBI has issued order no. WTM/RKA/MRD/25/2015 dated March 31, 2015
for exit of OTC exchange of India as Stock Exchange.
Hence, our membership with OTC exchange of India stands automatically
cancelled w.e.f. 31.03.2015. Hence, our non-refundable deposit lying
with them have been written off in the accounts.
Mar 31, 2014
A) Provision for taxation:
The company during the year has provided current tax as computed under
the provisions of the Income Tax Act, 1961.
b) Considering the reasonable certainty required under AS 22 and
greater prudence, the recognition of deferred tax has not been done as
the company has brought forward of losses and there is no virtual
certainty supported by convincing evidence that sufficient future
taxable income will be available against which such deferred tax assets
can be realised.
c) Previous year figures have been regrouped and rearranged to make
them comporable with the current year figures.
Mar 31, 2013
A) Considering the reasonable certainty required under AS 22 and
greater prudence, the recognition of deferred tax has not been done as
the company has brought forward of losses and there is no virtual
certainty supported by convincing evidence that sufficient future
taxable income will be available against which such deferred tax assets
can be realised.
b) Previous year figures have been regrouped and rearranged to make
them comporable with the current year figures.
Mar 31, 2012
A) Upto the year ended 31st March 2011, the company was using
pre-revised Schedule VI to the Companies Act 1956, for preparation of
its Financial Statements. For the year ended 31st March 2012, the
revised schedule VI notified under the Companies Act 1956, has become
applicable to the Company. The Company has reclassified previous year
figures to conform to this year''s classification.
b) Considering the reasonable certainty required under AS 22 and
greater prudence, the recognition of deferred tax has not been done as
the company has brought forward of losses and there is no virtual
certainty supported by convincing evidence that sufficient future
taxable income will be available against which such deferred tax assets
can be realised.
Mar 31, 2011
1. Company is engaged in the business of broking/dealing in shares &
securities. The inventory includes quoted as well as unquoted shares.
The inventory have been valued by the company at cost instead of lower
of cost or net realizable value as prescribed by AS-2. The valuation of
inventory has been taken valued and certified by the directors. Due to
the above, the valuation of inventory is higher by Rs. 256726.62 and
the net profit is overstated by the amount.
2. Deferred Tax has not been recognized because there is no virtual
certainty that sufficient future taxable income will be available
against which such deferred tax will be realized.
a) Balance shown under Debtors, Creditors and advances in so far as
these have since not been realized/ discharged or adjusted are subject
to confirmation.
b) In our opinion of die management, the current assets, loans and
advances on realization in the ordinary course of business, will not be
less than the value at which these are stated in the balance sheet.
c) The company is engaged in the business of share dealing and
consultancy in the related matter, which is only business segment
determined in accordance with AS-17 on segment reporting issued by the
Institute of Chartered Accountant of India.
3. Capital market operations as reflected in Profit & Loss Account
covers net income / loss of delivery as well as non delivery
transactions including future & option segment and of shares and
securities.
4. Additional information as required under schedule VI to the
Companies Act, 1956:
5. Figure of the Previous Year have been regrouped and reclassified
wherever necessary to confirm the classification adopted in these
accounts.